Thursday, October 11, 2012

The U.S. and New Jersey flags, flying in the sea breeze at Cape May, NJ.

Bluewater Wind New Jersey Energy LLC proposed a 350 megawatt wind project off the New Jersey coast. In 2008, the company won a $4 million grant from the state to install an offshore meteorological tower as part of a state-sponsored offshore wind grant solicitation. The grant agreement required Bluewater to install the tower by 2010, and took the form of a rebate: if Bluewater installed the tower by the deadline, it would receive $4 million back from the state.NRG Energy
- a Fortune 250 wholesale power generation company controlling nearly 26 gigawatts of capacity - acquired Bluewater in 2009. Also in 2009, Bluewater asked for and received a one-year extension of the met tower deadline.

In October 2010, Bluewater requested another extension, this time for two years. Bluewater pointed to difficulties in obtaining federal permits for the project. The NJ BPU granted the extension on April 27, 2011, requiring regular progress reporting and installation of the met towers by January 9, 2013. The BPU also lowered the rebate amount to $3 million.

As a result, last week the BPU found that the company had not complied with the order requiring status updates, and thus "that NRG Energy and Bluewater have abandoned the project and will not meet the rebate commitment requirements." The Board cancelled the met tower rebate, and directed BPU staff to reallocate the funding to other New Jersey Clean Energy Programs.

No comments:

Post a Comment

About Preti Flaherty

Preti Flaherty is one of northern New England's largest law firms, with more than 100 attorneys. We work with clients as creative, strategic partners to help move their businesses forward. With offices in Maine, New Hampshire, Massachusetts, Washington D.C. and expertise in multi-state and cross-border matters, Preti Flaherty has emerged as a thriving, regional firm.

Links

About this blog

A blog about energy resources, energy policy, and their effects on society and the environment. From fossil fuels to renewable energy, electricity to natural gas and oil, traditional technologies to innovations, this blog presents a look at the past, present, and future of energy.

This blog site is published by and reflects the personal views of Todd Griset, in his individual capacity. It does not necessarily represent the views of his law firm or clients, and is not sponsored or endorsed by them. The purpose of this blog site is to assist in dissemination of information about energy policy and related issues, but no representation is made about the accuracy of the information. The information contained in this blog site is provided only as general information for education purposes, and blog topics may or may not be updated subsequent to their initial posting.

By using this blog site you understand that this information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice. This blog site should not be used as a substitute for competent legal advice from a licensed attorney in your state. This blog site is not intended to be advertising and Todd Griset does not wish to represent anyone desiring representation based upon viewing this blog site in a state where this blog site fails to comply with all laws and ethical rules of that state.